HAWK RESOURCES LIMITED. — Capital/Financing Update 2026

Feb 19, 2026

ASX ANNOUNCEMENT 20 February 2026

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INFIELD MINERALS OPTION TO ACQUIRE HAWK’S DETROIT SEDIMENT-HOSTED GOLD PROJECT, UTAH, USA

Hawk Resources Limited (ASX: HWK; OTC: HAWRF) ( Hawk or the Company ) is pleased to announce that it has signed a non-binding letter of intent on February 19, 2026 (the “ LOI ”) giving Infield Minerals Corp ( “ Infield ”; TSX-V: IN) an option to acquire a 100% interest in the Detroit sediment-hosted gold property (“ Detroit ” or the “ Property ”) in Utah, U.S. This follows the acquisition by Hawk of Tamra Mining Company 1 LLC (“ Tamra 1 ”), the 45% owner of Detroit, from Castleton Commodities International (“ CCI ”).

Managing Director of Hawk Resources, Scott Caithness, commented:

“Hawk is pleased to have the opportunity to potentially realise some value for the exploration that it carried out on the Detroit property between 2020 and 2022. Hawk’s work identified a significant gold mineralised system at the Mizpah prospect and identified a second gold soil anomaly at Basin Main however it was felt that the project fitted best within a company that had potential to capitalise on synergies from operations in close proximity. Infield, with its clear gold focus and nearby Kings Canyon gold property, is well placed to benefit from any future exploration success at Detroit.”

Detroit Background

Hawk explored the Detroit property between 2020 and 2022 after executing a Letter of Intent for an option agreement with Tamra Mining Company LLC in March 2020.[1] Its initial focus was testing the porphyry copper-gold potential of the Basin Main intrusive complex followed by exploration for sediment and structurally controlled gold deposits along the eastern margin of the Basin Main intrusive which focussed on the historical Drum gold mine and the Mizpah prospect.

1 Refer HWK ASX announcements dated 25 March 2020, 16 April 2020, 1 July 2020, 30 September 2020, 15 October 2020, 22 February 2021, 8 March 2021, 11 May 2021, 9 June 2021, 21 July 2021, 24 August 2021, 1 September 2012, 22 September 2012, 30 September 2021, 15 October 2021, 12 November 2021, 18 November 2021, 19 November 2021, 8 December 2021, 16 December 2021, 30 December 2021, 20 January 2022, 22 February 2022. 25 February 2022, 22 March 2022, 5 April 2022, 28 April 2022, 11 May 2022, 25 May 2022, 27 June 2022, 3 August 2022, 25 August 2022, 30 September 2022, 2 November 2022 and 30 December 2022

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Exploration carried out by Hawk on Detroit included:

• District scale stream sediment and rock sampling plus geological mapping;

• Ground magnetics and induced polarisation geophysical surveys;

• Grid soil sampling along the eastern margin of the Basin Main intrusive complex;

• Six diamond holes into Basin Main geophysical targets;

• Seven diamond holes and 22 reverse circulation drill holes into the Mizpah gold prospect;

• Preliminary cyanide leach gold recovery test work on Mizpah drill core.

Hawk’s exploration at Mizpah successfully outlined shallow oxide, transition and primary gold mineralisation in a large sediment hosted mineralised system which remains open. Hawk’s view however was that to realise the value of the property, the project had more potential to be advanced and potentially developed by a company that could capitalise on synergies from a nearby operation.

Letter of Intent Key Terms

Subject to the execution of a definitive agreement, Hawk Resources Limited (“ Hawk ”) will grant Infield the right to acquire 100% interest in the Property in consideration for completion of the following cash payments, and for which Infield may satisfy one-half of any of the cash payments by issuing the equivalent value of common shares in the capital of the Company:

• (a) C$40,000 upon execution of the Definitive Agreement and TSX Venture Exchange approval of the proposed transaction;

• (b) C$60,000 upon the first-year anniversary of the Definitive Agreement;

• (c) C$80,000 upon the second-year anniversary of the Definitive Agreement;

• (d) C$100,000 upon the third-year anniversary of the Definitive Agreement;

• (e) C$120,000 upon the fourth-year anniversary of the Definitive Agreement; and

• (f) C$150,000 upon the fifth-year anniversary of the Definitive Agreement.

Additionally, the following cash payments shall apply if the associated milestones set forth below are achieved, and Infield may satisfy up to one-half of any of such cash payments by issuing the equivalent value of common shares in the capital of the Company:

• (a) Hawk shall be entitled to a one-time payment equal to C$1.25 for each ounce of gold identified the earlier of: (i) a Measured or Indicated mineral resource; or (ii) a Proven or Probable mineral reserve, as contained in a National Instrument 43-101 compliant technical report, subject to a 250,000 ounce minimum; and

• (b) Hawk shall be entitled to a one-time payment of C$1,000,000 upon achievement of aggregate production from the Property of no less than 7,500 ounces of gold.

Tamra Mining Company 1 LLC Acquisition

The Drum Project option agreement with Tamra Mining Company LLC (“ Tamra ”), which formed the nucleous of the Detroit Project area, was announced on 16[th] April 2020. Tamra is a subsidiary of CCI, a global energy commodities merchant and infrastructure asset investor ( CCI Energy Commodities | Castleton Commodities International | CCI).

The agreement provided Hawk’s U.S. subsidiary, Volantis Resources Corp (“ Volantis ”), the option but not the obligation (except for the Initial Programme) to earn-in up to a 70% interest in the project over a five year period. The initial programme/earn-in entailed a commitment to an Initial Programme of US$250,000 within one year before Volantis could earn a 55% interest in the Project by solely funding US$2,000,000 (including the Initial Program’s US$250,000) on or before the 3rd anniversary of the Option Agreement (“First Earn-In”). Following completion of the First Earn-In, the parties could form a Joint Venture for further development of the project.

Volantis’ exploration expenditure at Drum earned it a 55% interest in the property with Tamra retaining a 45% interest however the Company did not form a Joint Venture. Following a decision by CCI to divest its interest in Drum, Volantis has acquired Tamra Mining Company 1 LLC (“ Tamra 1 ”), CCI U.S. Asset Holding LLC’s subsidiary which held the residual 45% interest in the property.

The key terms of this acquisition are:

• The agreement covers the purchase of a 100% interest in CCI U.S. Asset Holdings LLC’s subsidiary company Tamra 1;

• The purchase price is US$20,000, plus the SITLA deposit (US$5,984) and BLM renewal costs for the property (US$3,850.00).

• CCI indemnifies Volantis from and against all Claims, liabilities, losses, damages, payments, deficiencies, awards, settlements, assessments, judgments, costs and expenses, including reasonable costs and expenses incurred in connection with investigating and defending (but not prosecuting) any Claims etc

• Volantis is able to sell the property subject to the incoming party adhering to the Tamra 1-Volantis agreement conditions.

END

This announcement was authorised for release by the Board of Hawk Resources Limited.

HAWK RESOURCES LIMITED

ABN: 55 165 079 201

Suite 1, Level 6, 350 Collins Street, Melbourne, 3000, VIC

www.hawkresources.com.au

For further information:

Scott Caithness , Managing Director Rod North, Managing Director Hawk Resources Bourse Communications Pty Ltd M: +61 8 6143 6711 M: +61 408 670 706 E: scott@hawkresources.com.au E: rod@boursecommunications.com.au

About Hawk Resources Limited

Hawk Resources specialises in critical and precious metal exploration.[2] The Company has the Cactus copper and gold projects in Utah, USA, five (5) lithium projects in Minas Gerais and Bahia, Brazil plus the Olympus scandium project in Western Australia (see Figures 1, 2 & 3). Hawk’s objective is to rapidly discover, delineate and develop critical and precious metal deposits for mining. The Company’s project portfolio has high potential for discovery as it lies in underexplored geological belts with similar geology to neighbouring mining districts. Our exploration plans also include reviewing new opportunities to secure and upgrade our pipeline of projects.

For more information please visit: https://hawkresources.com.au/

Competent Persons Statement

The information contained in this announcement that relates to exploration results is based on, and fairly reflects, information compiled by Mr Scott Caithness, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Caithness is the Managing Director of Hawk Resources and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Caithness consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Mr Caithness holds securities in the Company.

2 https://www.energy.gov/cmm/what-are-critical-materials-and-critical-minerals

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Figure 1 : Hawk Resources project locations in Utah, USA.

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Figure 2: Hawk Resources project locations in Minas Gerais and Bahia, Brazil.

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Figure 3: Olympus scandium project location in Western Australia.